MYFBS, MAY(R - the Digital Library of Georgia

MAYOR'S ANNUAL REPORT. 375cil assembled may see fit to pass respecting the privilegeshereby granted, or the use of any streets that maybe used by the said Vernon Shell Road Company, orthe exaction not only of a property tax, but alsospecific or business taxes for the use of the saidstreets based and graduated under the terms ot thepresent ordinances of the city of Savannah respectingthe taxation of street car companies, or such amendmentsthereof as the Mayor and Aldermen of the cityof Savannah may hereafter pass.(d) The above privileges and franchises, with allconditions attached thereto, must be accepted by theVernon Shell Road Company within sixty (60) daysfrom the passage of this ordinance, and in the eventof the acceptance it shall give a bond in the sum offive thousand ($5,000) dollars conditioned for thecompletion and operation of the said railroad throughthe streets above enumerated, and to White Blufif, inChatham county, Georgia, within twelve (12) monthsfrom the date of the said acceptance, the time barredby the sanitary regulations of the city of Savannahin constructing said work on the streets of the saidcity not to be included in said twelve months, so faras the work in the city is concerned. The said bondof five thousand ($5,000) dollars shall expressly providethat the said sum is agreed upon as liquidatedand stipulated damages, and not as a penalty, andthat the said sum will be paid to the Mayor and Aldermenof the city of Savannah as liquidated andstipulated damages should the Vernon Shell RoadCompany not comply with the terms thereof. Inaddition to this the further stipulation is expressedthat, in the event of the failure of the said railroad